T
ORONTO, Oct 29, 2024 - The Ontario Real Estate Association (OREA) has released a whitepaper outlining nine policy recommendations to further strengthen the real estate industry in Ontario. Building on its previous efforts to modernize legislation, OREA aims to make Ontario a leader in North America for professional standards.

    The Trust in Real Estate Services Act (TRESA), passed unanimously in 2020, is being implemented in three phases. OREA's latest whitepaper proposes measures to enhance consumer confidence, raise the bar on REALTOR education and professionalism, and deter bad behavior with stronger penalties.

    Key recommendations include eliminating loopholes that allow unregistered auctioneers to operate, introducing a two-year mentorship program for new registrants, and allowing administrative monetary penalties for minor infractions. These changes aim to improve trust in the industry and ensure Ontarians have confidence in their REALTORS.

    "Buying or selling a home is a significant financial decision," said Rick Kedzior, OREA President. "By implementing these proposals, Ontario can continue to lead in professional standards and consumer protections."

    The whitepaper provides a clear path for the Government of Ontario to strengthen the industry in this final phase of TRESA regulations, ensuring families have confidence in their REALTOR and the home buying process.

    For more information, please contact Jean-Adrien Delicano at [email protected] or 416-459-6059.